Posts Tagged ‘cloud mining pofitability’

The Bitcoin cloud mining service Cloud Hashing has lowered their prices or to be more precise is now giving more hashrare for the same price. You can check their previous prices here and now you can get 40 GHS for $299 USD, 165 GHS for $999 USD or 600 GHS for $2999 USD. With the increasing Bticoin network difficulty you would expect that a cloud mining provider will give you more GHS over time or make the price per GHS lower in order to make it more attractive for new customers. And this is one of the largest Bitcoin cloud mining services, though not the most affordable choice where you can purchase contracts for 1 year periods of time. According to their official status the service currently has a hashrate of 3.23 PHS in their dedicated pool for customers of the cloud service.

They are pushing things even further and not only offers lower price per GHS, but also try to attract new customers from competitors. We got a word that you can get a 10% increase in hashing power or 10% off the contract price if you are a CEX.io user that purchases a cloud mining contract. In order to take advantage of this promotion however you will need to contact the service via phone (512) 758-7847 or e-mail at support@cloudhashing.com as the discount or extra hashrate needs to be processed manually. If you decide to try this promotion feel free to let us know of your experience.

The Bitcoin Cloud Mining service Cloud Hashing has a new website design and new cloud mining plans and prices. The new prices however are just slightly more attractive than the old ones and that with the fact that the Bitcoin network difficulty continues to increase in big steps does not make the service that much more attractive and profitable as it was before the latest update. The cloud mining contracts being sold by the service are for 1 year term, and you can get 30 GHS for $299 USD, 110 GHS for $999 USD or 375 GHS for $2999 USD. If you put these values in a profit calculator with the current market situation there is absolutely no chance to even get a return of your investment in a year, let alone to have made some profit. And that makes it really hard to eve consider investing in the service, though if conditions improve for the better there is some chance to actually get some profit, but the risk is quite high to hope for such. So we do recommend to look for other better priced alternatives if you are interested in cloud mining services.

Aside from CexIO there is another old enough service offering with long enough history in order to be able to consider it as a trusted in terms of Cloud Mining services for Bitcoin mining. That service is called Cloud Hashing and we’ve been keeping an eye on it for a while already, though we were a bit reserved about investing some coins in it due to the quite high process they have. You can rent 85 GHS for $999 USD, 370 GHS for $3999 USD or 1 THS for $8999 USD, the lower the cloud mining hashrate the less attractive it is in terms of break even time. The prices cited here are quite high and they are for 1 year contract, so we took the numbers in a Bitcoin mining calculator that is supposed to give us an idea on when you can expect to break even and the results weren’t promising at all. Do note that the calculator uses some fixed values that we gave it like 15% increase in difficulty each time and a fixed price for Bitcoin at about $560 USD. In a year the price of Bitcoin could be double than what we have at the moment, the difficulty increase may be lower or higher, so there are quite a few unknown variables to take into account.

Running the numbers for the cheapest 85 GHS cloud mining hashrate plan we got a really disappointing results, as you can see in the graph above if the conditions do not change in favor of serious price increase for the Bitcoin there is absolutely no chance to get even in just 1 year (the period of the mining contract) and even if the contract duration was 2 years you will still be in the red. Going for the 370 GHS plan also returns pretty much the same unfavorable results, and even the 1 THS plan at the current price is way too high. In order for these BTC cloud mining hashrate plans to be profitable for sure with the current conditions they need to be half the price to what they currently are. Otherwise you are most likely going to loose money instead of earn investing in the cloud mining hashrate at the current prices that Cloud Hashing has… that is if the price of the BTC stays at the same level for another year. If the price gets twice than what it is for the moment you can actually make some money, however the risk is higher and no guarantees that this will happen. So be careful if you are considering investing in cloud mining hashrate in that service. We are probably still going to get a plan just so that we can properly test the service when we have some spare resources to invest there.

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